Tax planning is as much an art as it is a science. The key to success in this intricate process lies in the accuracy of the financial information at hand. Without up-to-date and precise figures, the assumptions made during tax planning may lead to less than optimal outcomes.
To ensure we provide the best guidance, we need the latest data from your financial records—whether you’re using Xero, MYOB, QuickBooks, or any other platform. By examining your most current reconciled figures, preferably up to the end of April or May, we can gain a clearer picture of your financial position. This allows us to make informed projections and tailor strategies to minimise your tax liabilities effectively.
Typically, this review process occurs after the March fiscal period. However, given that it’s now early June, having your books updated until the most recent month will provide crucial insights. A brief discussion about any upcoming financial activities will further refine our approach, ensuring that your tax planning is both accurate and forward-thinking.
In short, up-to-date and clean books are essential. With these in hand, we can pinpoint where you stand, project where you’re headed, and devise strategies to minimise your tax burden.